'Shadow-brokering leads' to lifetime ban for former mortgage pro

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Mortgage Renewal in Cambridge, ON

A B.C. man has accepted a lifetime ban on registration as a mortgage or submortgage broker for submitting fake income and tax documents to banks on behalf of clients.

As part of a consent order reached last month with B.C.'s Registrar of Mortgage Brokers, Ricky Kanwal also admitted to allowing two unlicensed dealmakers to use him to get financing for people who would likely otherwise never have been able to get a loan.

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Original Article Source Credits: CBC , https://www.cbc.ca/

Article Written By : Jason Proctor 

Original Article Posted on : May 21, 2020

Link to Original Article:  https://www.cbc.ca/news/canada/british-columbia/shadow-broker-mortgage-regulation-1.5576156